Sensex, Nifty outlook: Corrective mode expected soon

Bull market or bear market?

Markets are likely to remain under pressure given the weak closing with an advance-decline ratio of 2:3 and mounting trade tensions between the Russia and US.

Stocks likely to be in limelight today?
Bank of India, Bank of Baroda and other PSU banks along with a few fertiliser companies like Chambal Fertilisers could be in focus.

Sectors likely to impact market today?
PSU Banks could be a ticking time bomb due to the announcement of the latest defaulter list for IBC. Additionally, fertiliser companies could experience profit booking and some fresh buying.

Your mid-term view?
Markets could enter profit booking mode as Nifty has continuously made new highs. The onset of a corrective mode for the Indian indices is expected soon.

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What drove markets on Tuesday?
Tuesday was a good day for the bulls mainly led by Reliance, Maruti Suzuki and Hindalco. Nifty Metal led the rise by increasing by 1.8% intraday and Bank Nifty closed in green after a weak start to the day.

By Umesh Mehta, head of research, SAMCO Securities and StockNote
Source: DNA Money